Scorpio Tankers Inc. (STNG) Given Consensus Rating of “Buy” by Analysts
Scorpio Tankers Inc. (NYSE:STNG) has received a consensus recommendation of “Buy” from the nine research firms that are currently covering the company. Three analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $9.80.
Several brokerages have issued reports on STNG. Deutsche Bank AG reaffirmed a “buy” rating and set a $9.00 price target on shares of Scorpio Tankers in a research note on Monday, August 1st. ABN Amro raised Scorpio Tankers from a “sell” rating to a “hold” rating in a research note on Friday, July 1st.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP increased its position in shares of Scorpio Tankers by 9.6% in the first quarter. Wellington Management Group LLP now owns 17,409,431 shares of the company’s stock worth $101,497,000 after buying an additional 1,524,120 shares in the last quarter. HBK Investments L P increased its position in shares of Scorpio Tankers by 1,821.1% in the first quarter. HBK Investments L P now owns 445,700 shares of the company’s stock worth $2,598,000 after buying an additional 422,500 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Scorpio Tankers by 125.5% in the first quarter. Prudential Financial Inc. now owns 710,182 shares of the company’s stock worth $4,140,000 after buying an additional 395,300 shares in the last quarter. A.R.T. Advisors LLC increased its position in shares of Scorpio Tankers by 449.5% in the first quarter. A.R.T. Advisors LLC now owns 381,037 shares of the company’s stock worth $2,221,000 after buying an additional 311,700 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its position in shares of Scorpio Tankers by 426.9% in the first quarter. Loomis Sayles & Co. L P now owns 188,273 shares of the company’s stock worth $1,098,000 after buying an additional 152,540 shares in the last quarter. Institutional investors own 81.44% of the company’s stock.
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Scorpio Tankers (NYSE:STNG) traded down 1.61% during midday trading on Monday, reaching $4.29. The company had a trading volume of 1,646,225 shares. The stock has a market capitalization of $692.32 million, a price-to-earnings ratio of 4.92 and a beta of 1.96. The company has a 50-day moving average price of $4.78 and a 200-day moving average price of $5.18. Scorpio Tankers has a one year low of $4.05 and a one year high of $9.76.
About Scorpio Tankers
Scorpio Tankers Inc is a provider of seaborne transportation of refined petroleum products and crude oil to the international shipping markets. The Company’s fleet consists of 66 wholly owned tankers (10 LR2 tankers, two LR1 tankers, 15 Handymax tankers and 39 MR tankers) with a weighted average age of approximately 1.1 years and 20 time chartered-in tankers, which it operate (seven Handymax tankers, three MR tankers, five LR1 tankers and five LR2 tankers).
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